The dynamic relationship between the US GDP, imports and domestic production of crude oil
Abstract:This article investigates the dynamic relationship between crude oil imports, gross domestic product (GDP) and domestic crude oil production of the United States using a Vector Error Correction model estimation, generalized impulse response functions, persistence profile and variance decompositions. This article results suggest that the GDP has a leading role in determining oil imports.
Document Type: Research Article
Affiliations: Department of Finance and Economics, King Fahd University of Petroleum and Minerals, Dhahran 31261, Saudi Arabia
Publication date: November 1, 2009